Agoracom Blog

Red Light Holland $ Announces Increase in Bought Deal Equity Financing to $10 Million $ $PSYC $FTRP $BUZZ

Posted by AGORACOM at 9:57 AM on Wednesday, February 3rd, 2021
  • Doubles the size of the bought deal to $10 million

Red Light Holland Corp. (“Red Light Holland” or the “Company”) (CSE:TRIP), an Ontario-based corporation positioning itself to engage in the production, growth and sale of a premium brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce that it has entered into an amended agreement with Eight Capital, pursuant to which Eight Capital has now agreed to buy, on a bought deal basis, 23,000,000 units (“Units”) at a price of $0.44 per Unit (the “Issue Price”), for gross proceeds of $10,120,000 (the “Offering”).

The Company has agreed to grant Eight Capital an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional approximately $1,500,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately $11,600,000.

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